SimplyBiz Mortgages has added Masthaven Bank to its lender panel, allowing its members to offer the bank’s first and second charge lending products from today.
The first charge rates start at 2.94% on loans between £40,000 and £1,000,000 and are aimed at those including self-employed, contractors and those with complex incomes.
Masthaven’s second charge rates start from 3.74%, up to 75% LTV. These will be available on loans between £10,000 and £750,000. SimplyBiz Mortgage members will also have access to Masthaven’s residential product range.
Martin Reynolds, chief executive of SimplyBiz Mortgages, said: “We have been working with Masthaven behind the scenes to ensure that we could launch both its first and second charge propositions to our members at the same time.
“We now have six lenders offering second charge loans directly to our members and we expect to see this trend continue over the next few months.”
Matt Andrews, managing director of Mortgages at Masthaven added: “SimplyBiz Mortgages was able to support the introduction of both our first and second charge products to its panel, and the timing for this was key.
“We aim to provide a common-sense approach to lending which assesses borrowers on their individual situations rather than their credit scores.
“By getting a thorough understanding of our customer’s story, we are able to find the best products to suit their financial and personal needs.
“By partnering with SimplyBiz Mortgages we can help more intermediaries access funding for customers who have found it difficult to find a lender who really looks at each application on a case-by-case basis.”